EURUSD Daily Forecast Sep 20 2018

EURO-Dollar-min

EURUSD: Cautiously Bullish, With Eyes On The 1.1750 Levels.

As long as 1.1608 support holds on a daily closing basis, the EURUSD remains on the upside to the 1.1750 levels, a halt is likely and it may turn lower from here to test 1.1700 levels where a cut will aim the 1.1608 levels. On the other hand; A rejection from the 1.1700 levels will retest the 1.1750 levels, above that level ( not easy ) will advance the pair further higher to the 1.1810 levels ahead of the 1.1850 levels, above 1.1850 will aim the 1.1937 levels.

On the downside, main support comes at the 1.1608 levels, a daily closing back below that level should weaken the bullish momentum and pave the way to the 1.1530 levels, 1.1430 levels, further down, support comes at the 1.1365 levels.

Further rise cannot be ruled out above 1.1608 to test the 1.1750 levels.

Conclusion: The EURUSD continues to face upside threats above the 1.1608 levels with a risk to the 1.1750 levels. Below 1.1608 sees a fall risk to the 1.1530 levels.

Notes: Above 1.1608, the pair may spike to the 1.1750 levels, If the pair spikes to the 1.1750 levels and closes below 1.1700 levels (daily basis), it’s an early warning for 1.1608 levels.

Support and resistance: 1.1307, 1.1365, 1.1430, 1.1530, 1.1608, 1.1700, 1.1750 (critical), 1.1810, 1.1850, 1.1937.

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